OPTI Canada to start roadshow Wednesday for $1 billion eight-year notes

By Paul A. Harris

St. Louis, Nov. 28 - OPTI Canada Inc. will begin a roadshow on Wednesday for its $1 billion offering of eight-year senior secured notes (B1/BB), according to an informed source.

The Rule 144A with registration rights deal, which is being led by joint bookrunners Credit Suisse and RBC Capital Markets, is expected to price late next week.

The Royal Bank of Scotland, Scotia Capital, BNP Paribas and Societe Generale Corporate & Investment Banking are co-mangers.

The notes come with second-lien security and four years of call protection.

Proceeds will be used to refinance the Calgary, Alta., developer's existing project facility as well as to fund expenditures and complete phase one of the Long Lake project.

OPTI Canada is engaged in the development of the Long Lake oil sands project in Canada, a 50-50 joint venture with Nexen Inc.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.